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Investigation announced for Investors in Olo Inc. (NYSE: OLO) shares over potential Wrongdoing

09-14-2022 03:02 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation on behalf of investors in Olo Inc. (NYSE: OLO) shares over potential wrongdoing at Olo Inc. was announced.

An investigation on behalf of investors in Olo Inc. (NYSE: OLO) shares over potential wrongdoing at Olo Inc. was announced.

An investigation was announced for investors in shares of Olo Inc. (NYSE: OLO) over potential breaches of fiduciary duties by certain directors at Olo Inc.

Investors who purchased shares of Olo Inc. (NYSE: OLO) and currently hold any of those Olo Inc. (NYSE: OLO shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain Olo Inc. officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.

New York based Olo Inc. provides software-as-a-service platform for multi-location restaurants in the United States. Olo Inc. reported that its annual Total Revenue rose from $98.42 million in 2020 to $149.36 million in 2021,and that its Net Loss of $3.06 million in 2020 turned to a Net Loss of $42.27 million in 2021.

On August 11, 2022, Olo Inc. announced second-quarter results and outlook. The net loss was $11.7 million or $0.07 per share, compared to a net loss of $2.4 million or $0.02 per share a year ago. Additionally, per one analyst covering Olo, management disclosed Subway (~15K locations) has begun the process of replacing Olo's Rails product with a homegrown solution (2.5k locations moved in 2Q with the remaining expected in 1Q23.

Shares of Olo Inc. (NYSE: OLO) declined from $14.08 per share on August 4, 2022, to $8.11 per share on August 15, 2022.

Those who purchased shares of Olo Inc. (NYSE: OLO) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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